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Equity Release Mortgages
Are you a home owner and you need to release some equity? There is a great option for you that is claimed by more and more people who use the value of their home in order to get some extra money. How is this possible? It is by an Equity Release Mortgage that makes it possible for you as well to free up a percentage of the value of your property. Isn’t it great? You can still remain the owner, but in the same time you get extra cash or regular monthly payments. You would like to know more about this mortgage scheme, wouldn’t you?

Let’s start with suitability. Basically, everyone can get an Equity Release Mortgage who has an own house in good repair, but it is most likely given only to those over 55. You are also asked not to have outstanding mortgage. Age is a determining factor in calculating how many percentage of the value of your property you can release. If you are older, you can release a higher percentage of your property-value than younger people. Also, there is no maximum age limit. So feel free to apply!

Why can an Equity Release Mortgage attract you? If you are retired and have only a small pension and not enough savings, you are likely to have a desire for something more. Now you have the time to have new experiences, or you intend to buy the long-desired car, or you just want to have a more comfortable life, but you cannot, because of financial reasons. For all these things and for many others you can make up the needed money.
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Read this article to find out how! You can easily replenish your income in retirement with releasing some equity from your house, you can invest in a stable or favourable business that will ensure you extra income in the near-future, or you can buy such things that you have never thought you can afford. Believe it or not, you can even go to a special holiday or go round the world! Take advantage of this possibility! And don’t lose courage because of the fact that people has mistrusted equity release in the past. Now the situation is gradually changing as lifetime mortgages are supervised by the Financial Services Authority and there is a scheme regulation as well.

But what are Equity Release Plans? This is a perfect way to release cash by borrowing money against your home. But please note that not everybody is suitable for an equity release mortgage. It is recommended that you consider if the needed money can be raised otherwise before choosing this option as it is quite a complex process, and a big commitment anyhow. In order to help you decide whether it is worth considering this option, the following part will deal with the procedure itself, with the attractive features as well as with the costs. After taking a quick read of it, you will surely be able to see if an Equity Release Mortgage is a good choice for you or not.

So how the Equity Release Schemes work? Although there are many different types of Equity Release Plans that range from giving you a huge amount at once to those providing you with regular income, they basically are all the same. Lenders give you an amount of money that corresponds to a percentage of your home’s value. They get back the given money with some interest after the house is sold off. In one word, these plans could be the solution you were looking for!

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